What is the appropriate amount of money when an ex-spouse buys you out of your share of the house?
2006-08-14 05:34:57 · 25 answers · asked by ttocserpmada 1 in Family & Relationships ➔ Marriage & Divorce
You pay cash for half what is owed on the house.. If the house is payed for then half of what its worth
2006-08-14 05:39:00 · answer #1 · answered by Anonymous · 0⤊ 0⤋
If you don't have a very comprising mate, then 50% of the house's value is equitable. I've seen a few case where they accepted like 10% of the fair market value of the home, but there were other concessions made. It is pretty much a business deal and the departing spouse would want to feel that they are not being cheated.
I suggest get a very good divorce lawyer. Once you find out who's representing your mate, find the attorney (or law firm) that has gotten more verdicts over them.
Good luck!
2006-08-14 05:42:53 · answer #2 · answered by Grown Man 5 · 0⤊ 0⤋
It's not half the value of the house; it's half the equity. So 1) agree on the value of the house; 2) subtract the mortgage; 3) that's the equity; 4) split it, the one who keeps the house pays the other one 1/2 that amount, and assumes the mortgage. That is what is fair.
2006-08-14 05:53:58 · answer #3 · answered by slippped 7 · 0⤊ 0⤋
First of all is it ex wife or ex live-in partner. It does make a big difference. In states where they have community property laws, maritial ties can imprison you and ruin your life. About the only way, you can buy out your ex is by mutual consent. The ties that bind are really tight, once you say "I Do". Even your retirement is considered "Community Property". If you are married, be sure that your divorce is clear and final and that all ties are held for naught.
Your problem is a serious one and a good lawyer is a necessity in your case.
2006-08-14 05:42:26 · answer #4 · answered by Anonymous · 0⤊ 0⤋
when you buy an ex out, but want to keep the house you're
currently living in, you re-finance the home and for example, if you're the one that is staying in the house, you do the re-fi as
a "max cash out" loan, meaning you take out more money against the equity and she would be entitled to that or half that,
whatever the agreement is. Its a fairly easy process to do.
2006-08-14 05:40:37 · answer #5 · answered by Jenster*is*flipping*you*off 6 · 0⤊ 0⤋
First, ask her what she wants for her half of the house. You might find she is willing to deal. I'd get an appraisal or speak with a couple realestate agents and get a market comparison as to its value. If you were married when you first got the house, then she's entitled to half of its value.
2006-08-14 05:41:51 · answer #6 · answered by Sir Greggath 3 · 0⤊ 0⤋
Either: a) what the spouse being bought out asks for, or 2) what the court decides.
2006-08-14 05:38:23 · answer #7 · answered by Anonymous · 0⤊ 0⤋
wel you have to give her half of what the house is worth you can either get a 2nd mortgage or get a loan and keep the house the mortgage could also be4 called a equity line of credit I could help you with this e-mail me at ljnavarrete@yahoo.com or go to the business website fundingez.com
2006-08-14 05:40:43 · answer #8 · answered by crazy 4 somethin' real 3 · 0⤊ 0⤋
Usually half of what the house is worth, but be sure to get a quick claim deed signed.
2006-08-14 05:39:06 · answer #9 · answered by mixemup 6 · 0⤊ 0⤋
I'd say more than half! Forget half and half, give me 75% and leave your spouse 25% and the house!
2006-08-14 05:38:52 · answer #10 · answered by Anonymous · 0⤊ 0⤋